The Comoros

Bahari is the operator of blocks, 35, 36 and 37 totalling approximately 18,000 square kilometres along the country’s border with Mozambique.

The licence area is adjacent to the proven and prolific Rovuma gas basin, offshore Mozambique. Recent discoveries, estimated at 175 TCF of gas in place, in Area 1 and Area 4 of Mozambique’s Rovuma basin by Anadarko Petroleum Corporation and Eni S.p.A further demonstrate the significant potential of this acreage. Existing 2D seismic data indicates the possible extension of the Rovuma basin floor fans into the Exploration and Production Sharing Agreement licence area.

Through 2012, Bahari worked with the Comoros Government to develop a modern petroleum legislative framework that was signed into law by the President in early 2013 and which will underpin all future oil and gas investment. A full petroleum exploration and production contract under the new legislation was signed in 2013 and formal approbation was received from the National Assembly in March 2014, clearing the way for exploration to commence.

Bahari, together with its partner Discover Exploration, has invested over $10 million to date exploring the area. Seismic, AVO/EEI analysis, gravity and magnetic, oil seep and field studies show extensive mid-slope and basin floor fans and sand channels in an environment that almost certainly includes all the proven East African source rocks including the Jurassic and Lower Cretaceous. Maturation studies indicate that source rocks may be expected to be oil mature in this outer deltaic environment. It is not an exaggeration to say that these exploration efforts, recently published, have rewritten the geological picture of the northern Mozambique Channel and reawakened interest in the prospectivity of the deep offshore.

A detailed Prospectivity Study of the opportunity together with data room access is available under Confidentiality Agreement to interested investors.

Resource estimates

Category A Stratigraphic Prospects and Category B Structural Leads shown here indicate PMean prospective recoverable oil resources in the 7 to 10 Bbbl range. There is potential for significant upside in the success case to be confirmed with 3D seismic.

The next step in the programme is to prove source though drilling an exploration well, planned for 2018.

Presence in the Comoros

Bahari has modern offices conveniently located on the outskirts of Moroni and currently employs 14 nationals in various roles from Security to Accounting.